A third of homeowners are planning renovations

A third of Canadian homeowners are planning renovations this year with an average spend of $13,000 according to one of the largest mortgage lenders.

The CIBC poll found that general maintenance is the top plan (54 per cent) followed by landscaping including patios and decks (42 per cent).  Bathrooms (33 per cent) and kitchens (26 per cent) are also priorities for many.

"The poll findings show that Canadians are focused on outdoor projects," says Scott McGillivray, host of HGTV's Income Property. "Spending more on the outdoors may not necessarily be the first option when it comes to return on investment, however you should never underestimate the value of curb appeal.”
The survey revealed that half of respondents were most concerned about overspending on their renovation project.
 

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